کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
7364213 | 1479093 | 2018 | 80 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Bid-ask spread determination in the FX swap market: Competition, collusion or a convention?
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
Following a series of manipulation scandals in the global foreign exchange and money markets, recent lawsuits, regulatory reform proposals and bank compliance changes have explicitly targeted anti-competitive behaviour. By empirically investigating the determination of bid-ask spreads in foreign exchange swap markets, this paper addresses some contradictions where reciprocality, trust and conventions remain fundamental and logical. By doing so, the paper critically reflects upon the bid-ask spread in traditional market microstructure theory, the definition of the spread as a 'component of price' in antitrust law, and the policy implications in light of the recent regulatory investigations into financial benchmarks and OTC markets.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of International Financial Markets, Institutions and Money - Volume 54, May 2018, Pages 78-97
Journal: Journal of International Financial Markets, Institutions and Money - Volume 54, May 2018, Pages 78-97
نویسندگان
Alexis Stenfors,